Micron Technology, Inc. $MU Shares Acquired by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC increased their position in Micron Technology, Inc. by 2.2%, bringing their total shares to 367,977, valued at approximately $31.98 million.
• Several large investors have also adjusted their stake in Micron, with Banque Transatlantique SA increasing their holdings by an impressive 528.9%.
• Analyst ratings for Micron show a consensus of "Moderate Buy" with a target price of $147.54, indicating continued optimism about the stock's performance.

Eventide Asset Management LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 367,977 shares of the semiconductor manufacturer's stock after buying an additional 7,992 shares during the quarter. Eventide Asset Management LLC's holdings in Micron Technology were worth $31,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Duquesne Family Office LLC acquired a new position in shares of Micron Technology in the fourth quarter worth $34,412,000. Janus Henderson Group PLC increased its position in shares of Micron Technology by 74.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after acquiring an additional 1,130,680 shares during the period. Mission Wealth Management LP increased its position in shares of Micron Technology by 195.2% during the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after acquiring an additional 10,348 shares during the period. Centre Asset Management LLC purchased a new stake in shares of Micron Technology during the first quarter worth $7,720,000. Finally, ProShare Advisors LLC increased its position in shares of Micron Technology by 16.9% during the fourth quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer's stock worth $138,945,000 after acquiring an additional 238,687 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. KeyCorp upped their price objective on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Wells Fargo & Company upped their price objective on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upped their price objective on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Finally, Robert W. Baird increased their target price on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.54.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director owned 20,146 shares in the company, valued at approximately $2,330,287.82. This trade represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president owned 201,326 shares in the company, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,884 shares of company stock valued at $32,363,889 in the last 90 days. Insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of MU traded up $7.16 during mid-day trading on Friday, reaching $131.37. 28,358,729 shares of the company's stock were exchanged, compared to its average volume of 16,826,394. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $117.85 and a two-hundred day simple moving average of $101.70. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $131.41. The company has a market cap of $147.02 billion, a price-to-earnings ratio of 23.67 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period last year, the company posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Micron Technology Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.